Question: In Example 11.2, the gamma distribution was used to model the skewness to the right of the lifetime distribution. Experiment to see whether the triangular
In Example 11.2, the gamma distribution was used to model the skewness to the right of the lifetime distribution. Experiment to see whether the triangular distribution could have been used instead. Let its minimum value be 0, and choose its most likely and maximum values so that this triangular distribution has approximately the same mean and standard deviation as the gamma distribution in the example. (Use @RISK’s Define Distributions window and trial and error to do this.) Then run the simulation and comment on similarities or differences between your outputs and the outputs in the example.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
